North East business chiefs have warned that uncertainty over entry to the euro could harm the region's prospects.

North East business chiefs have warned that uncertainty over entry to the euro could harm the region's prospects.

George Cowcher, chief executive of the North East Chamber of Trade, believes it is vital to clear up any confusion over the Government's stance.

He said: "We welcome the recent announcement that there is a firm date for a formal announcement about the euro and the five economic tests.

"It is essential this not only deals with the current situation, but also gives a firm indication of future intentions.

"Keeping business in perpetual euro limbo would be damaging in the medium and long term."

According to a major survey commissioned by the British Chambers of Commerce earlier this year, half of UK businesses wanted the Chancellor to wait to see how the euro developed before any decision about joining was made.